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14-09-2013, 06:45 PM
If the Major shareholder had sold in late May at 1.34 levels and Mgt sold in early Aug at 1.16 levels with privy information of the acquisition deal that is not available to the public, then they buy at $1 via the placement or the market with a profit. This constitutes insider trading.
At $0.02 projected quarterly dividend, the yield will be 8% p.a. at $1 (private placement price). Attractive at below $1 based on existing information.
As I have highlighted in my earlier sharing, the management placed shares to raise funds for the property acquisition. I believe the sophiscated/institutional investors are likely to hold their shares for the long term. The share price is likely to be heavily supported by the potential yield and the NAV.
SABANA management is fair to existing shareholders as it has declared advance distribution (http://infopub.sgx.com/FileOpen/20130913...eID=256183).
There is unlikely to be dilution of equity from its convertible sukuks as the price of conversion $1.1933 is above the current market price.
At $0.02 projected quarterly dividend, the yield will be 8% p.a. at $1 (private placement price). Attractive at below $1 based on existing information.
As I have highlighted in my earlier sharing, the management placed shares to raise funds for the property acquisition. I believe the sophiscated/institutional investors are likely to hold their shares for the long term. The share price is likely to be heavily supported by the potential yield and the NAV.
SABANA management is fair to existing shareholders as it has declared advance distribution (http://infopub.sgx.com/FileOpen/20130913...eID=256183).
There is unlikely to be dilution of equity from its convertible sukuks as the price of conversion $1.1933 is above the current market price.